Modern monetary systems

Transportation and communication in the United States 1925

Bibliographic data

Monograph

Identifikator:: 1753210836

URN:: urn:nbn:de:zbw-retromon-128414

Document type:: Monograph

Author:: Nogaro, Bertrand http://d-nb.info/gnd/117039713

Title:: Modern monetary systems

Place of publication:: London

Publisher:: King

Year of publication:: 1927

Scope:: XII, 236 S.

Digitisation:: 2021

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Part I. Modern monetary systems and their operation

Collection:: Economics Books

522 COMMERCE YEARBOOK Table 12.—Distribution of Operating Revenues of Class I Railways? [Millions of dollars] eAT Total perat- ing revenues Labor ? Fuel (loco- Toti ve) Mate- rial, wupplies, ete.’ Taxes All other eXpenses Net rail. way operat- ing income OTR, cu mes RR HS Emmy BIR, i iiitm wi Cee , 10& °, 597 1,014 \, 881 145 178 517 559 200 S921 5, 120 , 245 , 366 1,618 2, 431 T6844 424 I R90 , 468 2, 785 - 825 2 630 242 251 "34 530 474 “i 2 DL 551 51% 32 I 002 367 J1if 2 156 1,266 1,132 "wy A 157 1e > £ L8¢ 78% 23¢ 1, 040 244 934 26 639 ny 455 dui a7 39% 801 361 7680 4185 962 413 974 ® 1,120 RT © 7 as “3 340 259 t Excludes switching and terminal companies. ! Excludes that portion of pay roll chargeable to capital account, ! Includes uncollectible railway revenues. | Fiscal year ended June 30; others, calendar years. } Three items amounting to $1,983,000,000 not available in detail. Source: Compiled by Bureau of Railway Economics from reports of Interstate Commerce Commission. Railway Capital and Dividends. The total amount of railway capital actually outstanding has increased from $19,029,000,000 on June 30, 1913, to approximately $22,061,000,000 December 31, 1925. The data in Table 13 are from reports of the Interstate Commerce Commission except those for 1925, which are estimated by adding all new railroad issues during the year. The ratio of funded debt to total railway capital has increased rather regularly since 1919. A certain part of the reported capital outstanding consists of securities held by railroads themselves, aggregating approximately $3,000,000,000. This leaves the net capitalization of the companies considered as one system at the end of 1925 about $19.000.000,000. Table 13.—Railway Capital Actually Outstanding Nore.—In millions of dollars. Excludes securities held by or for the issuing company but not those held by other railway companies. Switching and terminal roads not included. but nonoberating as well 18 operating companies are included. Year ended June 30— Me mis wins Whe ememesmoss {tPA oe emimae [CI L010 wma wn mins O18 Total allway ranital »,19¢ > 993 7,714 3,438 3, 989 5029 * 401 77s a. AR] Funded debt 3, 808 9, 380 764 2,075 n 437 ,42¢ A747 1,085 0 gag Qtoeck 7,301 612 011 363 > 559 600 god | 635 | Jean Per cent of debt to capital 54.6 55.% 4, ¢ fa 5.0 “fF 65.4 56.% nsf Year ended Dee. 2] — mimic Sue eammen ges TTT Total ailway ~apital 19, 631 3, 765 9, 453 9, 539 3, 098 30, 248 0, 464 1, 058 1, 681 5 0R1 Funded debt |! 0, 875 0, 761 0, 607 i, 656 1,255 1,358 1,502 1,965 2, 381 5 mar Stock , 158 J, 004 3, 847 > 883 3,843 3, 890 2 969 2003 9,300 0 318 Per cent of debt to renital 56.4 54.5 54, F 54. k 56." 56, 56. 56. { 57.1 EY ® t Estimated from unofficial sources, Jource: Interstate Commerce Commission.

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